Nvidia Beats Earnings And Revenue Estimates, Uplifting Forecasts

NVIDIA Corporation NVDA released its Q2 results after market close on Thursday. Earnings per share came in at $0.53 and revenues of $1.43 billion. Analyst consensus had an EPS estimate of $0.37 and revenues of $1.35 billion.

NVIDIA saw Q3 revenues at $1.68 billion plus or minus 2 percent vs. estimates of $1,45. Additionally, management forecasted Q3 non-GAAP gross margins to be 58.0 percent.

"Strong demand for our new Pascal-generation GPUs and surging interest in deep learning drove record results," said Jen-Hsun Huang, co-founder and CEO, NVIDIA. "Our strategy to focus on creating the future where graphics, computer vision and artificial intelligence converge is fueling growth across our specialized platforms -- Gaming, Pro Visualization, Datacenter and Automotive."

"We are more excited than ever about the impact of deep learning and AI, which will touch every industry and market. We have made significant investments over the past five years to evolve our entire GPU computing stack for deep learning. Now, we are well positioned to partner with researchers and developers all over the world to democratize this powerful technology and invent its future," stated Huang.

At time of writing, NVIDIA traded at $62 in Thursday's after-hours session, up 3.8 percent.